Biophotonics Market is expected to reach 50.18 Billion USD by 2020

According to a new market research report “Biophotonics Market
by Application(See-through Imaging, Inside Imaging, Spectromolecular,
Surface Imaging, Microscopy, Light Therapy, Biosensors),
Technology(In-vivo, In-vitro), End-use(Diagnostics, Therapeutic, Tests),
& Geography - Global Forecast to 2020”, the total market
was valued at USD 26.26 Billion in 2014 and is expected to reach USD
50.18 Billion by 2020, at a CAGR of 11.5% between 2015 and 2020.

Nanotechnology has helped in the improvement of the
sensing phenomenon by the use of nanomaterials ranging from
nanocantilevers, nanowires, nanoparticles, nanorods, and nanotubes.
Nanomaterials such as carbon nanotubes and indium oxide nanowires are
widely used for the construction of nanobiosensors. The most promising
nanobiosensors technology is said to be based on the electronic
detection of the target molecule such as Field Effect Transistor (FET)
nanosensor.

See-through Imaging segment holds the largest market share

The largest segment for biophotonics market is
see-through imaging, it accounted for a market share of about 40% in
2014. There have been significant developments in the field of
see-through imaging techniques in recent years, especially in drug
discovery and medical diagnostics. Over the years, see-through imaging
has emerged as an effective tool for in-vitro and in-vivo imaging, and
become an integral part of biomedical research. These techniques have
helped in enhancing the knowledge of disease detection and progression,
thereby expediting the development of effective therapeutics.

Non-Medical Sector will have higher growth rates during the forecast period

The demand for biophotonics from non-medical sectors
is expected to gain momentum in the coming years. A wide range of
chemicals, toxins, and microbiological materials are now being used in
warfare and terror attacks; it is expected that in the coming years,
threats from such chemicals and biological warfare will increase
significantly. As such, the need of biophotonics systems for the
detection of such biochemical agents will boost the demand of the
biophotonics market in the defense sector. Biophotonics systems are also
being developed for the use in environmental monitoring. Since
environmental concerns such as increasing pollution and global warming
are common issues faced by various nations, the use of biophotonics for
environment monitoring is expected to grow in the coming years.

The report covers key application areas of the
biophotonics market, which include see-through imaging, inside imaging,
spectromolecular, surface imaging, microscopy, light therapy,
biosensors, and others. The biophotonics market in different geographic
regions– the Americas, Europe, Asia-Pacific (APAC), and the Rest of the
World (RoW) has also been covered in the report. The Americas was the
largest market for the biophotonics in 2014.

The report profiles major players with a SWOT
analysis of the top five players in the biophotonics market. The market
is expected to witness a series of new product launches, announcements,
and partnerships during the forecast period. The key companies in this
market include Affymetrix, Inc. (U.S.), Andor Technology Ltd. (U.K.),
Becton, Dickinson and Company (U.S.), Carl Zeiss AG (Germany), FEI
Company (U.S.), Hamamatsu Photonics K.K. (Japan), Lumenis Ltd. (Israel),
Olympus Corporation (Japan), PerkinElmer, Inc. (U.S.), and Zecotek
Photonics Inc. (Canada). Brief information on Research methodology for
the report can be found in the report description provided on website.

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